Sunday, March 24, 2024
Iraq is ninth in the world in natural resource reserves.. Russia is first and America is second, 24 MARCH
Iraq is ninth in the world in natural resource reserves.. Russia is first and America is second
Iraq was ranked among the top ten countries possessing the most valuable natural resource reserves, in terms of total estimated value for the past 3 years.
According to the Statista website, natural resources are the raw inputs used to make everything that is used, from intermediate goods to final products, and these resources are found in the ground among reserves that have not yet been extracted.
According to Statista estimates, Russia came in first place, with the value of its natural resource reserves amounting to $75 trillion. This amount includes coal, oil, natural gas, gold, timber, and rare earth minerals.
The United States came second, and the estimated value of its natural resources is estimated at about 45 trillion dollars, approximately 90% of which is wood and coal.
Iraq ranked ninth, as it possesses $15.9 trillion in natural resources, and its desert terrain contains oil, natural gas, phosphate and sulfur, according to the site.
Iraq is the second largest producer of crude oil in OPEC, ranks fifth in the world in possessing proven crude oil reserves, and relies on the export of crude oil to obtain a large amount of its revenues. link
"RV UPDATE" BY CLARE, 24 MARCH
Clare
Article "Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House" Quote "On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq."
Article: "Al-Sudani intends to visit Washington to lift the ban on banks prohibited from dealing in dollars"
Quote: "The head of the Iraqi Securities Commission, Faisal Al-Haimas, announced that three Iraqi banks were sanctioned by the US Treasury, and 25 banks were banned from dealing in dollars ;."
Article: "The Central Bank announces an understanding with the US Treasury to reconsider sanctions and indicates 'illegal trade' "
https://dinarevaluation.blogspot.com/2024/03/rv-update-by-clare-19-march.html
Saturday, March 23, 2024
Iraq is yet to amend budget to resume Kurdistan’s oil flow: Oil Minister to Bloomberg, 23 MARCH
Iraq is yet to amend budget to resume Kurdistan’s oil flow: Oil Minister to Bloomberg
Oil Priest Hayyan Abdul Ghani said that the Iraqi government is as yet concentrating on a proposed correction to the bureaucratic spending plan that would empower Baghdad to pay worldwide oil organizations working in the Kurdistan locale.
Producers in the semi-autonomous region would be able to resume production as a result of the change, eventually exporting through the Turkish port of Ceyhan. In March of last year, Turkey shut down the pipeline that carried crude from Kurdistan. This cost the governments and businesses involved billions of dollars in lost revenue.
A critical obstacle to restarting streams is the creation cost of Kurdish oil. State leader Mohammed Shia Al-Sudani in December put that expense at $21 a barrel, contrasted and only $8 in different locales of Iraq.
The Minister was quoted by Bloomberg as saying, “We seek to accelerate the settlement of the cost issue and resume exports as soon as possible.” The Oil Service desires to audit and correct agreements endorsed between the Kurdistan Provincial Government and the worldwide organizations, he said.
After an arbitration court ordered Turkiye to compensate Iraq for transporting oil through the link without Baghdad’s approval, Turkiye shut down the pipeline. Ankara, which asserted the line was closed for fixes, said in October it was prepared for activities and it depended on Iraq to continue streams.Turkish President Recep Tayyip Erdogan is because of visit Baghdad one month from now, which might assist with settling other staying focuses, including the fine. Abdul Ghani told Bloomberg that Iraq is quick to restart sends out through Ceyhan and to keep up areas of strength for with attaches with Turkiye.
"RV UPDATE" BY MILITIAMAN, 23 MARCH
MILITIAMAN
"ANALYSIS OF IRAQ NEWS" BY MILITIAMAN, 22 MARCH
Militia Man
Deleting the zeros from the notes, how are you going to do that? You're going to re-denominate the currency ...The way to re-denominate is to add value. If you don't add any value, re -
denomination means those that hold currency don't gain anything. I don't think the United States Treasury...Great Britain...Canada...Australia...Coalition forces ...South Koreans came into Iraq to get completely 100% hosed with anything like that...If Al-Sudani says, the dinar hold on to it, it's going too be stronger than the dollar...$0.76 is not stronger than the dollar. Add the real effective exchange rate and you can easily get over a dollar...
Oil is anywhere from $88 to $85 right now. Add in the tax revenues and customs duties and fees at the borders, the tourism you got to see the exchange rate of the Iraqi dinar is not going to be at $0.76. They're going to have to add that real effective exchange rate to it and that's probably...exactly why they haven't exposed it just yet. It's a sensitive issue.
They need to keep it close to the chest... They can't go out and tell everyone on the street, 'Hey you know next week your exchange rate is going to be X.' It doesn't work that way...Eventually they will expose it...
https://dinarevaluation.blogspot.com/2024/03/rv-update-by-militiaman-22-march.html
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...